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Eon, part of the German energy group of the same name, supplies about four million households in the UK.

It announced in June that it would raise its standard tariff by 4.8 percent, roughly £55 a year, later this month.

Mr Lewis, a vociferous opponent of the price cap, said that Eon had “undertaken a rigorous review of our options to ensure we keep costs as low as possible, become a more agile organisation and remain a sustainable business in the UK”.